Hole LRGG-19-030 intersected 16.9m of the Los Ricos Vein from 128.7 to 145.5m and averaged 1.45 g/t gold equivalent
made up of 0.54 g/t gold and 67.8 g/t silver; including a 5.0m interval averaging 3.43 g/t gold equivalent
made up of 1.46 g/t gold and 147.9 g/t silver.
Highland had a 10% rise in production during the period, increasing to 142,254 ounces of gold and gold equivalent
from 128,921 ounces in 2018.
* The New Afton Mine delivered gold equivalent
production of 65,791 ounces (19,203 ounces of gold and 21.6 million pounds of copper).
The firm repeated its production guidance for full year 2019 across the group at 171,500 to 185,000 gold equivalent
Total production in gold equivalent
ounces was 83,736 ounces for 2018.
The company reported the cost of sales was approximately USD342 per gold equivalent
ounce for the fourth quarter, over the USD319 per gold equivalent
ounce in the third quarter.
Company re-confirmed its FY2013 production guidance at 1.2m oz of gold equivalent
(up 13% y-o-y), however sees moderate risk to the forecast at around 5% of the yearly target due to delays in ramping up the Amursk POX.
Drill hole LRGG-19-028 intersected the Los Ricos vein from 34.5m to 62.0m and averaged 2.99 g/t gold equivalent
made up of 1.21 g/t gold and 133.5 g/t silver over 27.5m; including an 11.0m interval averaging 6.85g/t gold equivalent
made up of 2.93 g/t gold and 293.9 g/t silver.
Revenue in the six months to June 30 rose 20% to USD946.0 million, with gold equivalent
production rising 22% year-on-year to 756,000 ounces gold sales by 36% to 604,000 ounces.
Second Quarter Production Highlights Gold Equivalent
Q2 2019 H1 2019 2019 Guidance Produced (1) (oz) Rainy River 66,765 129,043 250,000 - 275,000 New Afton 65,791 126,777 215,000 - 245,000 Total Production 132,556 255,820 465,000 - 520,000 Gold Produced (oz) Q2 2019 H1 2019 Rainy River 66,013 127,570 245,000 - 270,000 New Afton 19,203 37,044 55,000 - 65,000 Total Production 85,216 164,614 300,000 - 335,000 Copper Produced (Mlbs) Q2 2019 H1 2019 New Afton Copper 21.6 41.1 75 - 85 Produced (Mlbs) (1.) Gold equivalent
ounces include silver and copper ounces produced converted to a gold equivalent
based on a ratio of the average spot market prices for the commodities for each period.
Silver equivalent production was 11.0 million ounces and gold equivalent
production of 125,359 ounces.
In 2018, the volume of production from Gadabay deposits was predicted to be 78,000-84,000 ounces in gold equivalent